Inflation |
A general rise in price level of all goods and services within a period of time |
Demand |
Consumer's desire to purchase a good or service backed by ability and willingness to pay. |
Price |
It is a amount of money in which a supplier is willing to offer a product and a buyer is willing to pay. |
Economic growth |
Economic growth is the growth in inflation-adjusted gross domestic product within a period of time. |
Money supply |
The total amount of money in circulation or in existence in a country. |
Monetary policy |
Policy by Central Bank to achieve price stability, interest rate stability, and exchange rate stability through the control of money supply. |
Microeconomics |
The part of economics concerned with single factors and the effects of individual decisions. |
Quantity theory of money |
Theory that advocates that as the money in circulation increases, the price level also increases proportionately, and the value of money falls. |
Crony capitalism |
An economic system characterized by close, mutually advantageous relationships between business leaders and government officials. |
Currency attack |
A speculative attack in the foreign exchange market is the massive and sudden selling of a nation's currency, and can be carried out by both domestic and foreign investors. |
Pegged exchange rate |
A pegged exchange rate, also known as a fixed exchange rate, is where the currency of one country is tied to a usually stronger currency, such as the euro, US dollar or pound sterling. |
Pump Priming |
Pump priming is the action taken to stimulate an economy, usually during a recessionary period, through government spending and interest rate and tax reductions. |
Compensatory spending |
Compensatory spending refers to government expenditure which is undertaken with the idea of compensating the decline in private investment. |
New classical macroeconomics |
New classical macroeconomics, sometimes simply called new classical economics, is a school of thought in macroeconomics that builds its analysis entirely on a neoclassical framework. Specifically, it emphasizes the importance of rigorous foundations based on microeconomics, especially rational expectations. |
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